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Crypto Exchange OpenEx (OpenEx.xyz) Closes Seed Round

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Crypto Exchange OpenEx (OpenEx.xyz) Closes Seed Round

January 26
02:58 2023

The cutting-edge crypto exchange OpenEx (OpenEx.xyz) has recently closed a multi-million-dollar seed round with TKX Capital backed by OKX ex-CEO and Huobi Group ex-CFO Shufei (Chris) Lee and Agallochum Capital, a VC with many successful cases in TMT and Web 3.0, also participated in this round.

OpenEx (OpenEx.xyz) offers an original order flow management model. Unlike the mainstream B2C exchanges, OpenEx focuses on the B2B2C membership model and now makes order flow management that generally has an extremely high entry barrier in both traditional finance and the crypto industry available to its members. With user capital being the same, this creates a high-income and low-risk profit model for members with an average net income 4 to 8 times higher than that on other exchanges.

The founding team of OpenEx expressed: “Previously, order flow management and the excess profits it brings belonged to institutional investors with capital and risk management capabilities, such as market makers. However, the innovative model of OpenEx empowers influencers and communities good at user development and operations, as well as retail investors, with the help of our proprietary and exclusive order flow management and market-making system for members.

OpenEx is playing long-term. We are optimistic about the future of crypto assets. Blockchain, tokens, and smart contracts have become a civilization-wide phenomenon. They greatly empower individuals and give them more choices and freedom, which is the manifestation of civilization and progress. OpenEx hopes to be a part of this great cause and journey and also hopes more people will join the industry and become evangelists with our help.”

TKX Capital is a crypto investment bank providing comprehensive services in the primary and secondary markets. It was founded in March 2021 by Chris Lee, the former CEO of OKX and former CFO of Huobi Group, and Will Wang, the former Head of Business Development & Investment in North America for Huobi Group’s Global Ecosystem Fund. TKX covers all sub-sectors of the crypto industry and plans to continue investments in the primary and secondary blockchain markets, offering full life cycle investment, consulting, and capital management capabilities.

TKX focuses on applications and infrastructure in Web 3.0, NFT, metaverse, GameFi, and DeFi. The TKX team has served and invested in multiple star projects, such as Mask Network (MASK), Polygon (MATIC), MOBOX (MBOX), Alien Worlds (TLM), and Serum (SRM).

Regarding TKX’s investment in OpenEx, Chris Lee stated: “Following the development of the digital asset industry, the existing exchange architecture can no longer meet the needs of diversified institutional service providers. Based on the OpenEx infrastructure and ecosystem, important links and participants of traditional financial markets like brokers will be able to provide more customized services to users in different regions and with different experience profiles. Thanks to the OpenEx model, all service providers can provide end users with comprehensive products and services, such as consulting, teaching, content creation communities and trading assistance, with higher motivation and quality.”

Agallochum Capital is a Hong Kong family office focusing on investment in TMT and other technology fields. It is one of the funders of Tencent Fund and has also funded and directly invested in Didi, New Frontier, Meituan, Pinduoduo, and QuantumCTek. Since 2017, it entered Web 3.0 by investing in Project Galaxy (Galxe), CyberConnect, iBox, Mask Network (Maskbook), Flashbots, etc., notable projects. Isaac Wu, a partner of Agallochum Capital, stated:

“Agallochum Capital is optimistic about the background and experience of the OpenEx team. They have been very successful in traditional exchanges and have introduced crypto features to create a unique business model for crypto exchanges. I vouch for the strategy of choosing something different from competitors rather than doing the same thing but better. I strongly support the positioning of OpenEx as an ‘empowerer’ and ‘Exchange as a service (EaaS)’, because it offers the general public something that was once exclusive. I believe OpenEx has a good chance of becoming a new giant in the near future.”

https://www.OpenEx.xyz/

TKX Capital

https://www.tkx.capital/

Will Wang [email protected]

Agallochum Capital

http://agallochum.com/

Issac Wu [email protected]

Media Contact
Company Name: OpenEx Technology Pte Ltd
Contact Person: Bob JT Chien
Email: Send Email
Address:71 Ubi Road 1#06-34 Oxley Bizhub
City: Singapore 408732
Country: Singapore
Website: http://www.openex.xyz/